How and Where To Get an $80,000 Personal Loan

It's difficult to find a $80,000 personal loan because so few lenders provide loans larger than $50,000. Comparing three or more loan choices may not be feasible as a result. It's worthwhile to look at alternate borrowing options throughout the application process if that's the case.

Remember that a loan of $80,000 entails a significant financial commitment. Before applying, take the time to assess your true borrowing requirements, calculate your monthly payments, and develop a responsible loan management strategy.

 

Some lenders provide low-interest personal loans up to or for more than $100,000, while the majority restrict personal loan amounts at $50,000.

LightStream

Trustpilot Rating: 4.9 (Credible rating)
APR Rate: 6.49% – 25.29%
Loan Term: 2 – 20 years (depending on loan type)
Loan Amount: $5,000 – $100,000
Minimum Credit Score: 700

Pros:

• Same-day funding possible
  
  

• High loan maximum of $100,000
  
  

• No origination fees
  
  

• Long repayment periods for certain loan types
  
  

• Competitive APR rates
  
  

Cons:

• No prequalification option
  
  

• Requires good credit
  
  

• Not available in Vermont
  
  

• No phone support listed on site
  
  

• No soft credit check
  
  

Overview:
LightStream is a strong option for borrowers with good credit seeking high loan amounts. With loan terms as long as 20 years for specific uses like home improvement or RVs, it offers flexibility rarely seen elsewhere. The lender provides fast funding and zero fees but lacks transparency in customer support and prequalification. It’s available in all states except Vermont.

 

SoFi

Trustpilot Rating: 4.8 (Credible rating)
APR Rate: 8.99% – 35.49%
Loan Term: 2 – 7 years
Loan Amount: $5,000 – $100,000
Minimum Credit Score: Not disclosed

Pros:

• Same-day funding possible
  
  

• Prequalification without SSN
  
  

• Large loan amounts available
  
  

• FDIC-insured lender
  
  

• Free financial planning tools
  
  

Cons:

• Minimum loan of $5,000
  
  

• No clear minimum credit score
  
  

• Origination fee may apply
  
  

• Higher starting APR than some competitors
  
  

• Limited info on qualification criteria
  
  

Overview:
SoFi offers high loan limits and a wide range of borrower-friendly perks, including same-day funding, autopay and direct pay discounts, and financial planning support. As an FDIC-insured bank, it stands out among online lenders. However, it’s less transparent about its credit and income requirements, and origination fees may apply depending on your loan structure.

 

BHG Financial

Trustpilot Rating: 4.4 (Credible rating)
APR Rate: 9.96% – 23.48%
Loan Term: 3 – 10 years
Loan Amount: $20,000 – $250,000
Minimum Credit Score: 660

Pros:

• Offers loans up to $250,000
  
  

• Accepts borrowers with fair credit
  
  

• Long repayment terms available
  
  

• Suitable for high-income borrowers
  
  

• Specialized in large loan financing
  
  

Cons:

• Not available in 10 states
  
  

• Minimum income of $100,000 required
  
  

• No rate discounts
  
  

• 3%–4% origination fee
  
  

• Funding takes 5+ days
  
  

Overview:
BHG Financial is a rare lender offering personal loans up to $250,000, making it a solid choice for large expenses or high earners. It accommodates borrowers with fair credit and provides longer terms than many competitors. However, the income and location limitations, plus slower funding and fees, may be a drawback for some.

 

Securing an $80,000 personal loan can be more difficult than getting approved for a smaller amount; largely because most lenders don’t offer loans above $50,000. Due to the higher loan size, lenders usually look for strong credit scores and higher annual incomes. In most cases, applicants with good credit and six-figure earnings have a better chance of qualifying.

To give you a clearer picture, we analyzed a full year of personal loan data to identify the average interest rates, borrower incomes, and prequalification rates by credit score tier for $80,000 loans.

 

When borrowers apply for an $80,000 loan, it's typically to cover major financial needs. Based on data from Credible, most people used large personal loans for consolidating debt, refinancing credit card balances, or funding home improvements. These purposes often justify the higher loan amount and make repayment easier over time.

Below is a breakdown of the most common uses for $80,000 loans, along with the average credit scores and interest rates across all credit tiers:

 

Borrowing $80,000 is a major financial step, so it’s important to approach the process with careful planning. If you’re ready to move forward with an $80,000 personal loan, here’s a step-by-step guide to help you navigate the process with confidence:

1. Review your credit report
Your credit score plays a major role in determining loan eligibility and interest rates. Check your credit history in advance to understand where you stand and identify any issues that might impact approval.

2. Understand lender requirements
Beyond credit scores, lenders assess factors like income, employment status, and debt-to-income ratio. Make sure you meet the basic qualifications before applying to avoid unnecessary rejections.

3. Compare lenders carefully
Since $80,000 is on the higher end for personal loans, not every lender will offer that amount. Look for lenders with high borrowing limits, favorable terms, and minimal fees. Always compare multiple options before making a choice.

4. Submit a complete loan application
Once you’ve chosen a lender, fill out the application carefully and upload all required documents, such as proof of income and identity. Doing this upfront can help speed up the approval process.

5. Accept and sign the loan agreement
If approved, review the terms of your loan offer in detail, including the APR, repayment schedule, and any applicable fees. Once everything looks good, sign the agreement to move forward.

6. Receive your funds
After finalizing the loan, most lenders will transfer the funds directly to your bank account. Depending on the lender, the money may arrive the same day or within a few business days.

 

Your credit score and your intended usage of the loan both affect the interest rate that lenders give when they evaluate your loan application. APRs are generally lower for borrowers with better credit ratings, while the loan's intended use (such as home repair or debt consolidation) may also have an impact.

The chart below shows how average APRs vary for $80,000 loans across different credit score tiers and loan purposes:

As shown, those with excellent credit tend to lock in the lowest rates regardless of loan purpose. Rates climb sharply for fair credit borrowers, particularly for credit card refinancing, which generally carries higher risk for lenders.

 

Getting approved for an $80,000 personal loan when you have bad credit isn’t easy but it’s not impossible. Lenders see higher loan amounts as riskier, and poor credit only adds to the challenge. Still, there are ways to improve your chances or explore more manageable alternatives.

1. Add a cosigner to strengthen your application
One of the most effective ways to improve your odds is by applying with a trusted cosigner who has strong credit. Some lenders allow cosigners on personal loans, and this added support can help you qualify more easily or even land a better interest rate. Just make sure both parties understand the shared responsibility for repayment.

2. Consider borrowing a smaller amount
It would be smart to reduce your request if $80,000 is just out of your price range. Some lenders provide more lenient credit standards for personal loans up to $60,000 or $70,000. A smaller loan amount may increase your chances of being approved and result in easier-to-manage monthly installments. 

 

An $80,000 loan is a major financial commitment, so it’s important to evaluate your options thoroughly before applying. Most lenders will expect strong credit, a stable income, and a low debt-to-income (DTI) ratio before approving such a large amount. To ensure you’re making the best borrowing decision, keep the following factors in mind:

1. APR (Annual Percentage Rate)
The APR is one of the most important things to check when comparing personal loans. It represents the full cost of borrowing, including interest and any lender fees, making it a more accurate gauge than interest rate alone. Because high loan amounts typically come with greater risk for lenders, APRs can be higher, especially if you don’t have excellent credit. Prequalifying with multiple lenders can help you find the most affordable rate.

2. Repayment terms
Large loans like these usually come with longer repayment windows, sometimes as long as 7 to 12 years. While a longer loan term may reduce your monthly payment, it also means paying more in interest overall. Choose a repayment period that balances affordability with the total cost of borrowing.

3. Monthly payment
It’s important to choose a loan with a monthly payment that works for your budget. Before applying, run the numbers to ensure the loan won’t strain your finances. If the payments seem too high, you might want to look into longer terms or a slightly smaller loan amount. Missing payments can damage your credit and lead to added fees, so it's worth planning carefully.

4. Total cost of the loan
Beyond the monthly payment, make sure to understand what the loan will cost you in total. The lender’s Truth in Lending Act (TILA) disclosure breaks down your full repayment amount, including interest and any fees. Two key figures to focus on are:

• Finance charge: The total cost of borrowing, assuming you make payments on time.
  
  

• Total payments: The full amount you’ll repay over the life of the loan, including principal and finance charges.
  
  

Taking the time to evaluate these details can help you choose a loan that’s not just affordable now, but also financially sustainable in the long run.

 

The chart below shows how your total repayment amount can vary widely based on your interest rate (APR). If you have poor credit and are only approved for high-interest loans, you could end up paying more in interest than the loan itself; a major red flag when borrowing such a large amount.

 

Loan Amount

Total Cost Over Time

 

Before making a commitment, it's critical to evaluate many lenders if you intend to borrow $80,000 through a personal loan. Depending on your credit profile, interest rates might vary greatly, which can have a big effect on your long-term expenses. 

One of the easiest ways to shop around is by using a loan comparison platform like Credible. You can check personalized rates from different lenders within minutes and the best part is, it won’t affect your credit score since prequalification only involves a soft credit check.

Just remember that getting prequalified doesn't mean you’ve been approved for the loan. It’s only an estimate of the rate you might receive. To get a firm offer, you’ll need to complete the full application process, at which point the lender will run a hard inquiry on your credit. This can cause a slight dip in your score, though it typically recovers over time.

 

An $80,000 personal loan is a major financial step, often requiring large monthly payments and a long-term repayment commitment. Missing those payments can impact your credit score, so it’s important to assess whether taking on this kind of debt is truly necessary. Start by reviewing your financial goals and asking yourself if it’s possible to delay your plans and save the money instead.

When an $80,000 personal loan might make sense:

Clear purpose and credit growth: If you have a well-defined reason for the loan and are confident in your ability to repay it consistently, it could help strengthen your credit over time.

Potential financial gain: Large-scale home renovations or upgrades that could increase your property’s market value may justify the loan, especially if you expect a solid return on investment.

Before moving forward, review the repayment terms closely and make sure you have a realistic budget in place. Being able to comfortably afford the monthly payments is essential to avoid financial stress and protect your credit health.

 

It might be difficult to get approved for a $80,000 personal loan if your credit isn't flawless. Thankfully, there are alternative financing options that can work better for you, particularly if you own your house or have equity in it.

Other financing options worth considering:

Home equity loan: For homeowners with significant equity, a home equity loan can be a practical alternative. It typically offers lower interest rates than unsecured personal loans because it’s backed by your property. That said, missing payments could put your home at risk, so it’s important to borrow responsibly.

Cash-out refinance: This option allows you to replace your current mortgage with a new one for a higher amount and take the difference in cash. It can be useful if you’re looking for a larger sum at a lower rate than a personal loan might offer. Just be aware that refinancing extends your mortgage and, like other home-secured loans, comes with the risk of foreclosure if payments aren’t met.

Home equity line of credit (HELOC): Unlike a lump-sum loan, a HELOC gives you access to a revolving line of credit, which can be ideal for ongoing or uncertain expenses. You borrow only what you need, when you need it. However, since your home is the collateral, staying current on payments is essential to avoid potential loss of property.

 

Careful preparation, a strong credit history, and a clear grasp of your financial requirements are necessary to obtain a $80,000 personal loan. Compare many lenders, check interest rates and conditions, and make sure the monthly payments match your budget, whether you're financing a significant home renovation project, paying off high-interest debt, or covering an unforeseen need. To locate the ideal loan offers for your credit status, investigate both conventional banks and internet lenders. Consider other choices, such as cash-out refinances or home equity loans, if a personal loan isn't what you need. You may take the most practical and economical route to your financial objectives by taking the time to thoroughly examine your alternatives.